US and German governments move more cryptocurrencies for more than USD $100 million – DiarioBitcoin
By Hannah Perez
Bitcoin rose modestly in price above $62,500 amid whale moves by the US and German governments.
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- More whale movements from government wallets
- German police sent 400 BTC to Coinbase, Kraken and Bitstamp exchanges
- Meanwhile, the US government moved more than 3,000 ETH
- Bitcoin recovered slightly above USD $62,500
Authorities in Germany and the United States continue to make whale movements in the cryptocurrency market amid a bearish price correction.
A wallet address owned by the German government transferred 1,500 on Monday bitcoins (BTC) worth USD $94 million to a handful of external wallets. In particular, the data of Arkham Intelligence revealed that a wallet from the German Federal Criminal Police Office (BKA) had made multiple movements in the last few hours, with much of the funds being sent to cryptocurrency exchanges, possibly with the intention of sale.
German police sent 600 BTC and 500 BTC to an unknown address in two transactions, while transferring 200 BTC to an address in Bitstamp100 BTC to an address Coinbase and the same amount to an address of Kraken.
Meanwhile, a wallet associated with the US government also moved cryptocurrencies during the morning hours, sending 3,375 Ethereum (ETH) worth just over USD $11 million to an unknown address, according to the same data source.
Governments in many countries around the world hold cryptocurrencies as a result of seizures in police cases.
German authority seized nearly 50,000 BTC, currently worth more than $3 billion, linked to movie piracy site Movie2k.toThe address that made the moves today holds 44,692 BTC worth approximately $2.8 billion, according to the same on-chain data source.
While the address of the US government that carried out the last transaction, contains digital assets that came from a seizure from the Estonian businessmen Sergei Potapenko and Ivan Turõgin, arrested in 2022 for cryptocurrency fraud.
The recent moves come after both governments took similar actions last week. Addresses labeled by the German government began sending bitcoins to cryptocurrency exchanges the week of June 17, and since then They have transferred more than 3,000 BTC to trading platforms.
Last week, the United States government sent almost 4,000 BTC valued at more than USD $240 million to Coinbase.
The operations have coincided with a bearish correction for Bitcoinwhich recently hit eight-week lows when it retreated below the $61,000 area. At the time of writing, BTC is hovering around $62,637, with a modestly bullish change of 1.8% over the past 24 hours.
It is worth noting that the movements of cryptocurrencies towards the exchanges They are often interpreted as signals of selling interest, which, when carried out by large holders, can add downward pressure to the market, driving prices down. Neither government has commented on the recent cryptocurrency movements.
Article by Hannah Estefanía Pérez / DailyBitcoin
Edited image of Unsplash
WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be suitable for retail investors as the entire amount invested could be lost. Check the laws of your country before investing.
